October 11, 1996 News Release: JNN-V, KPG-V...
JNR Resources Inc / Consolidated Pine Channel Gold Corp
Molanosa Arch area and Asbell Bay activities
Upon completion of permitting, followed by mobilization of men and equipment, drilling will commence on targets staked by the company and JNR Resources in the Molanosa Arch area, Northern mining district, Saskatchewan. The targets to be drilled have been modelled by Monopros Limited, and are similar to known kimberlite pipe signatures.
The No. 1 target, from geophysical modelling, lies approximately 100m deep and measures 300m in diameter. The targets to be drilled are on the break that is believed to be the controlling structure of the kimberlites that were drilled in the Fort a la Corne area and, to the north, where the Candle Lake joint venture drilling intersected kimberlite. Drilling is expected to commence before the end of October.
On the Consolidated Pine Channel - JNR Resources joint venture Asbell Bay properties, NMD, Saskatchewan, first pass work has produced two new showings, from which the first assays from selected samples ran to 12 grams per tonne gold. Second pass work, consisting of trenching and geophysics, continues to provide encouragement. A four to five metre shear or mylonite zone has been identified containing visible gold and which, to date, have been traced for 100 metres. Mineralized samples are being taken for assay.
The results from the recent drilling on the Consolidated Pine Channel - JNR Resources joint venture Pine Channel gold project have been received, with the best assays for gold running 0.118 oz/ton to 0.297 oz/ton, over narrow widths. Although these results are not what were hoped for, the companies will continue to explore for the source of the higher grade values found on surface. A radar landsat imaging program is planned, to be followed by interpretation by a structural geologist, to better understand where the source of the numerous high gold values could be located. Both Consolidated Pine Channel and JNR Resources are well-funded for further exploration work, which will continue.
Mr Dale Hoffman |
